Profit-Taking Continues in Crypto Market as Dogecoin, Cardano’s ADA Lead Majors Slide
Bitcoin finds support above $105,000 amid short-term uncertainty, while altcoins stumble on regulatory caution.
Updated Jun 5, 2025, 6:09 a.m. Published Jun 5, 2025, 5:27 a.m.
What to know:
- Profit-taking pressures continue to affect crypto markets, with Dogecoin and Cardano leading declines.
- Bitcoin remains stable, while Tron is the only major token showing gains.
- Market sentiment is in the greed zone, but analysts predict potential upward movement for Bitcoin.
Profit-taking continued to weigh down crypto markets Thursday as Dogecoin
and Cardano’s ADA
led declines among major tokens, with bitcoin
little-changed over the past 24 hours.
XRP
, Solana’s SOL
and BNB Chain’s BNB
shed 1.5%, while Tron’s TRX
was the only major token in the green with a 1.9% bump.
“Recent macro and policy conditions have created uncertainty in risk-on assets, which is reflected in the current Bitcoin price,” said Anna Liu, CEO of HashKey Tokenization, said in a Telegram message to CoinDesk.
“While we believe there will likely be volatilities in Bitcoin and cryptocurrencies, we remain positive on BTC as a strategic asset for investors in the longer term,” she added, noting that recent inflows into BTC and ETH ETFs show institutions are still exploring crypto allocations despite short-term headwinds.
Market sentiment remains in the greed zone, with the crypto fear and greed index at 62, though it has lost a few points in the last day.
Alex Kuptsikevich, chief market analyst at FxPro, said bitcoin’s rebound from near $103,000 on May 31 signals the beginning of a potential upward movement. “Potentially, this momentum could take the market to new highs above $130K,” he said.
However, Ether
continues to battle resistance at its 200-day moving average. A break above $2,700 could serve as an important indicator of renewed optimism, Kuptsikevich added.
Elsewhere, CryptoQuant suggested bitcoin could correct to $96,700, aligning with the average purchase price of short-term investors.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
Profit-Taking Continues in Crypto Market as Dogecoin, Cardano’s ADA Lead Majors Slide
Bitcoin finds support above $105,000 amid short-term uncertainty, while altcoins stumble on regulatory caution.
Updated Jun 5, 2025, 6:09 a.m. Published Jun 5, 2025, 5:27 a.m.
What to know:
- Profit-taking pressures continue to affect crypto markets, with Dogecoin and Cardano leading declines.
- Bitcoin remains stable, while Tron is the only major token showing gains.
- Market sentiment is in the greed zone, but analysts predict potential upward movement for Bitcoin.
Profit-taking continued to weigh down crypto markets Thursday as Dogecoin
and Cardano’s ADA
led declines among major tokens, with bitcoin
little-changed over the past 24 hours.
XRP
, Solana’s SOL
and BNB Chain’s BNB
shed 1.5%, while Tron’s TRX
was the only major token in the green with a 1.9% bump.
“Recent macro and policy conditions have created uncertainty in risk-on assets, which is reflected in the current Bitcoin price,” said Anna Liu, CEO of HashKey Tokenization, said in a Telegram message to CoinDesk.
“While we believe there will likely be volatilities in Bitcoin and cryptocurrencies, we remain positive on BTC as a strategic asset for investors in the longer term,” she added, noting that recent inflows into BTC and ETH ETFs show institutions are still exploring crypto allocations despite short-term headwinds.
Market sentiment remains in the greed zone, with the crypto fear and greed index at 62, though it has lost a few points in the last day.
Alex Kuptsikevich, chief market analyst at FxPro, said bitcoin’s rebound from near $103,000 on May 31 signals the beginning of a potential upward movement. “Potentially, this momentum could take the market to new highs above $130K,” he said.
However, Ether
continues to battle resistance at its 200-day moving average. A break above $2,700 could serve as an important indicator of renewed optimism, Kuptsikevich added.
Elsewhere, CryptoQuant suggested bitcoin could correct to $96,700, aligning with the average purchase price of short-term investors.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
